Specialist coaching inn operator The Coaching Inn Group has reported a 29% increase in sales and 60% rise in profits as turnover tops £13 million.
Reporting on its results for the last financial year to March 2016, the Group saw turnover reach £13,005,425 – up from £10,065,972 last year.
Underlying operating profit increased to £1,281,326 – up 60% on last year’s £800,000 figure – and site EBITDA rose from £2m to £2,701,223, an annualised average of £363,000 EBITDA per site. Food and beverage accounted for 69% of Group turnover, with accommodation sales at £3,832 million for the year.
Group Finance Director Edward Walsh said: “We continue to see benefits, both from our acquisitions and our investment in established sites, particularly in relation to our hugely popular Eatery and Coffee House concept. We’re ahead of our acquisition plan, with four new sites acquired in the past 12 months and with terms agreed on a further two sites, we’re on track to reach our target of 15 sites before the end of the year.
“We’ve completed major refurbishment projects at the White Hart in Boston, Royal Oak in Welshpool and Three Swans in Market Harborough, delivering over 50% return on capital invested and will continue to roll out our extensive investment programme across the estate.”
BGF provided The Coaching Inn Group with a £4.5m investment in March 2015.